Miracle Mile Advisors LLC Has $649,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

Miracle Mile Advisors LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRMFree Report) by 134.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,545 shares of the financial services provider’s stock after purchasing an additional 4,330 shares during the period. Miracle Mile Advisors LLC’s holdings in Iron Mountain were worth $649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $102,000. Strategic Financial Concepts LLC grew its position in Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 240,261 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in Iron Mountain by 3.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 232,200 shares of the financial services provider’s stock valued at $24,407,000 after buying an additional 7,759 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Iron Mountain by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider’s stock worth $5,841,000 after buying an additional 5,150 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Iron Mountain by 3.7% in the 4th quarter. Vontobel Holding Ltd. now owns 4,668 shares of the financial services provider’s stock worth $491,000 after buying an additional 168 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director now directly owns 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,673 shares of company stock worth $20,319,408. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. Truist Financial started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective on the stock. Barclays upped their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $121.71.

Check Out Our Latest Analysis on IRM

Iron Mountain Stock Performance

IRM stock opened at $101.03 on Wednesday. The firm has a 50 day moving average price of $91.95 and a 200-day moving average price of $97.88. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 165.62, a PEG ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRMGet Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.10 earnings per share. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.11%. Iron Mountain’s payout ratio is currently 765.85%.

About Iron Mountain

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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